Point of sale software in mortgage is the borrower-facing application portal that collects personal, financial, and property information and passes it to the loan origination system. The quality of the POS affects how many borrowers complete the application, how clean the data is when it enters the LOS, and how much manual work the processor needs to do before underwriting.
What to Evaluate in a Mortgage POS
- ✦Mobile responsiveness: the majority of borrower application starts happen on mobile. A POS that does not render cleanly on a phone will lose completions.
- ✦Verification integrations: the leading POS platforms integrate with Fannie Day 1 Certainty, Equifax The Work Number, and bank statement aggregators. These integrations reduce documentation requests and accelerate underwriting.
- ✦Co-borrower workflow: the application must support a second borrower completing their portion separately, ideally from their own device and login.
- ✦LOS data mapping: every field the borrower completes should map cleanly to the corresponding LOS field. Poor mapping creates processor re-entry and introduces error.
- ✦E-consent and disclosure delivery: the POS should handle initial disclosure delivery and e-consent in compliance with TRID timing requirements.
Encompass Consumer Connect vs. Alternatives
Encompass Consumer Connect is the native POS for ICE Mortgage Technology. It is tightly integrated with the Encompass LOS which makes data mapping reliable. The trade-off is that the borrower experience is less polished than standalone POS platforms built specifically for conversion. Alternatives like BeSmartee, Floify, and Maxwell offer better borrower UX and integrate with multiple LOS platforms via API, but the integration reliability varies by LOS version.
Aria can walk through mortgage technology questions including POS and LOS integration decisions. Ask at vicariointel.com.
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